Construction, Steel and Cement

National Cement Commence Exporting to Djibouti and Somaliland

National Cement S.C (NCSC), located in Dire Dawa, Ethiopia, has started exporting cement to neighboring Djibouti and Somaliland.

National Cement, the previously state owned Dire Dawa Cement Factory, commenced export after it began production with its full capacity following completion of   expansion at a cost of 2 billion Ethiopian birr.


Nib Sister Financial Institutions to Erect Joint HQ

The sister financial institutions, Nib International Bank and Nib Insurance are launching a soil test to determine a construction site for their joint headquarter buildings.

The buildings are to be constructed on a 3000 m2 plot of land leased near the National Theater in Addis Ababa. The building will be 33 storey high with four sub-terrain floors according to the design approved said Tafesse Bogale, Chairman of the board of directors of the bank.

The design for the building was executed by Haile Gabriel Consult Architects and Engineers selected by the Nib management after a design competition. Nib management and the consultants have declined to disclose the development of the project.


ORA Leasing Sino Trucks to Contractors

The Roads Authority of Oromia Regional State, Ethiopia has begun to hand over 366 Sino trucks with the required spare parts worth an estimated 367.7 million birr to contractors leasing the vehicles for the Universal Road Access Program.

The Roads Authority placed the order for the trucks from CGCOC Hansom Bejing Trading Co. Ltd three months ago. The order was placed with the aim of helping contractors in need of heavy duty vehicles to move materials through hilly and stony terrain explained Chala Hordofa, General Manager of the ORA.

The contractors are expected to pay for the cost of the trucks over four years at which time the authority will transfer full ownership of the trucks to the private operators.


Prefab Housing Entering Strong on the Ethiopian Market

Addis Prefabricated Housing Manufacturing Industries SC, Ethiopia has sold 31.4 million birr in shares in just the three months exceeding its target capital goal of 29 million birr. The share company floated 29,000 ordinary shares at a value of 1,000 birr since the 16th of February and has attracted 773 investors so far.

The company extended the deadline it had set for selling shares from April 16th to the 20th of May following the demand seen on the market claimed Gezahegn Yayinshet, Chairman of the Board.  

The minimum share allotment for one investor is 25 and the maximum 500 shares. A 10% service charge is levied on investors and they are expected to pay 60% of total investment on subscription a further 20% is due three months after the general assembly and the final 20% will be paid another three months after the second allotment is paid.


Prime Minister Green Lights Airport Project

The plan to build a new international airport proposed by the Ethiopian Airports Enterprise has been given the green light by Prime Minister Hailemariam Desalegn.

It is expected that the Ministry of Transport will table the proposal to the Council of Ministers for its endorsement to be forwarded to the Parliament according to an official with the administration. It is expected that the project will be financed by a loan from the Chinese EXIM Bank he added.  

The Airports Enterprise has been conducting a study on the launch of a new international airport for the past two years.
he Ethiopian Airports Enterprise announced that it expects to raise more than one billion birr from the various services that it renders in the new budget year.